Which of the following is a feature of a public good? MCQ with Answer and Explanation

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Which of the following is a feature of a public good?

A. Rivalrous and excludable

B. Rivalrous and non-excludable

C. Non-rivalrous and non-excludable

D. Non-rivalrous and excludable

Answer: Option C

Solution (By JKSSB Mock Tests)

Public goods are non-rivalrous and non-excludable.

This question belongs to: Economy GK Economy Set 1

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Question #1

Which of the following taxes is progressive in nature?

A. Excise duty

B. Sales tax

C. Customs duty

D. Income tax

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Correct Answer: Option D

Explanation:
A progressive tax is one where the tax rate increases with the increase in the taxable amount. Personal income tax in India is progressive with different slabs.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'balance of payments' crisis of 1991 in India was partly caused by:

A. high oil import bill and declining remittances

B. high foreign exchange reserves

C. high exports

D. fiscal surplus

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Correct Answer: Option A

Explanation:
The 1991 BoP crisis was triggered by high oil prices, declining remittances and low reserves.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Total Fertility Rate' is the average number of children born to a woman over her lifetime.

A. True

B. False

C. Only for urban women

D. Only for working women

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Correct Answer: Option A

Explanation:
Total fertility rate is the average number of children a woman would have during her reproductive life.

This question belongs to: Economy GK Economy Set 1

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